ADAPTABILITY- "Nothing is Sacred and No Strategy Is Successful Forever!"
Just as the leader must change when the business changes, so must the strategy. Strategy is built on what is happening externally in the market, with the competition, when new technologies displace the old and the socio/political/ governmental factors and when they change so must the strategies. In addition the resources may change such as the ability to finance, ability to innovate, market, produce and compete.
So the strategic winner must be willing to change the strategies, even if it means reducing the focus on what may have made the organization a winner in the first place. Equally important is a willingness to admit mistakes and change the strategies and priorities. History is littered with illustrations of companies that refused to adapt and kept betting on past and not future.
CHANGES THAT HEALTHCARE LEADERS NEED TO RESPOND TO!
We discussed in our last note that the reason that strategic thinking, planning and leadership is now so critical is that all of the key stakeholders, the micro and macro-environment is changing both rapidly and significantly. Stakeholders include customers, suppliers, employees, communities, educational organizations, governments and others.
- PATIENT AND CUSTOMER CHANGES
- EXISTING AND NEW COMPETITORS
- TECHNOLOGICAL CHANGES
NEXT TAB IS ABOUT PATENT/ CUSTOMER CHANGES